505 Games parent company Digital Bros has signed a worldwide PC and console publishing agreement with Remedy Entertainment for a brand new game for PlayStation 4, Xbox One, and PC, including Steam, across both retail and digital versions, the company announced.
The 505 Games parent will contribute €7.75 million in development funding, and providing marketing and publishing services for retail and digital versions worldwide.
The new game, code-named “Project 7” and built on Remedy’s proprietary Northlight engine, is a “cinematic third-person action game” set in a new Remedy-created universe. It features an “intriguing story and game structure offering a long-lasting experience,” and “the deepest game mechanics yet in a Remedy game.”
Find quotes from each party below.
Raffaele Galante, CEO of Digital Bros
“It is a sign of how far 505 Games has come that we are now in a position to partner with such a talented development studio as Remedy Entertainment. Our mutual life-stages, ambitions and business objectives are actually very well-aligned and we are excited to enter into what feels like a very natural partnership. The agreement fits perfectly with our strategy of continuous improvement of the quality and the potential returns of our portfolio.”
Tero Virtala, CEO of Remedy Entertainment
“We have a strong vision of what P7 should be. 505 Games brings into this partnership experience and competences that help us successfully make this vision become reality together. Remedy is also investing in P7 and is deeply committed to creating an unique gaming experience that will keep the players engaged and playing for a long time to come. We are really excited to embark on this journey with 505 Games.”